China’s GDP per capita rises to $7,800

Beijing, Nov 3 (IANS) Gross domestic product (GDP) per capita in China has increased to about $7,800, according to a document released on Tuesday.

The document, “the Communist Party of China (CPC) Central Committee’s proposal on formulating the 13th Five-year Plan (2016-2020) on National Economic and Social Development”, reviewed China’s achievements during the previous five-year period and was adopted at the fifth session of the 18th CPC Central Committee, which ended on October 29, Xinhua news agency reported.

During the 2011-2015 period, the value added of tertiary industry surpassed secondary industry for the first time, according to the document.

Urban residents account for 55 percent of the total population, it said.

China has upgraded infrastructure and boasts some of the world’s most advanced technological achievements, the document said.

As to agriculture, grain production has seen consecutive increases during the past five years.

China is the world’s top goods-trade power and a major overseas investor.

“China is about to realise its goals set for the 12th Five-year Plan as its economy, technology and national defence as well as international influence have been developing rapidly,” said the document.

Looking ahead, China still faces many challenges, including development imbalance, economic slowdown, environmental deterioration, aging population and poverty, in addition to the sluggish global recovery, trade protectionism and security threats.

The 13th five-year plan will focus on addressing these challenges.

China must abide by six principles to push forward the sustainable and healthy development of the economy and society at large, and to double GDP and per capita income of both urban and rural residents from the level of 2010 by 2020, thus, completing the building of a moderately prosperous society, according to the document.

The six principles are: putting people centre stage, scientific development, deepening reform, the rule of law, consideration of both domestic and international situations and the Party’s leadership, it said.